ABOUT THE FUND
The Main Street Entrepreneurs Seed Fund supports Georgia State student entrepreneurs, recent alumni and Georgia State community entrepreneurs with seed funding and mentorship to start and grow new ventures.
ETHIOPAY
Daniel Hadgu, COO
Undergraduate Student, B.B.A. Finance
[email protected]
Michael Gizachew, CEO
Community Member
[email protected]
Launched January 2018
PROBLEM
Traditional forms of international money
transfer are expensive, time consuming
and potentially risky
SOLUTION
Allows users to send funds directly
to a receiver’s mobile wallet or
directly pay for a receiver’s bills
BUSINESS MODEL
Charge a fee for each transaction
made inside of the platform
TARGET MARKET
Serviceable Market of $900 million in the
United States and a Total Addressable
Market of $5 billion globally
KEY COMPETITORS
Bole, Western Union,
Robinhood, Cashapp
USE OF FUNDS
75% Mobile Money License,
17.5% Operation & Inventory,
2.5% Product Development,
2.5% Marketing & Sales,
2.5% Legal
How did you meet your co-founder?
We are from the same Ethiopian/Eritrean community.
Why did you launch your company?
To provide a solution for the problems that the Ethiopian diaspora are faced with when remitting money to Ethiopia.
What advice can you offer to entrepreneurs?
The greatest threat to your future success is your current success. Remain humble and calm in your current endeavors and keep moving forward despite the obstacles.
What innovative technologies are being leveraged in your business?
We are completely bootstrapped and have built out the mobile and web-based application (for both IOS and Android) in the Flutter software development kit and it incorporates a unique development stack including Google Firebase, Apple Push Kit, Stripe API and Cloud Functions.
How has Georgia State supported you in your entrepreneurial journey?
Going to a school located in heart of Atlanta has given me a multitude of opportunities to attend various events and meet many different people. In fact, I was able to acquire the internship I have now through networking. ENI has allowed me to hone in on the entrepreneurial experience and inspired me to think bigger.
FOUNDER INTERVIEW
ABOUT THE FUND
The Marcus Foundation supports Georgia State student entrepreneurs, recent alumni and Georgia State community entrepreneurs with seed funding and mentorship to start and grow new ventures.